Cancelling PPI CAN BE DONE!!!!!

southernscouser

Sorry to hijack but have you all voted! :think: :rotfl:

http://forums.moneysavingexpert.com/showthread.html?t=138470

Chop

Thanks for the replies, I'll persuade him to keep complaining. He's already threatened to take his loan elsewhere but I guess they're not bothered by that.

I think there may be some benefit in CCing the letter to his 'privilige' manager as well!

Thanks,
Chop.

nej

Quincifer wrote:

Just to let you know, i rang Natwest to ask if I can cancel the PPI on my loan (its less than £100 but it all helps!) and the guy said he had no idea!! I told him it didnt say anything in the loan papers and he said that he "didnt think" there was any reason i couldn't cancel it. So my letter is typed up and im gonna post tomorrow morning on the way to work. I guess theres no harm in trying! I'll let you know, thanks for the advice - i never thought id be able to get out of it!
x

Please keep us updated - I've got a Natwest loan with PPI and am considering trying to get it cancelled/refunded and I'd be very interested to hear your experiences before I dive in!

asquiths_2

ok we recieved a letter back from the yorkshire bank this morning saying they are looking into our complaint and would we send in a copy of the original loan agreement along with an explaination as to why we believe to have been mis sold the ppi (which we have already done) so am getting on with that today and will keep you all informed. xxxxx

traveller1

I have a barclay loan with PPI and asked for it to be cancelled and claimed a mis-sell.........

3 days after the complaint using the standard letter on the site they rang me full of apologies and refunded £4500.00 !!............makes a difference of £80 per month on the payment !!.thanks guys for the help.

T

rockape_2

hi all, has anyone tried this with nationwide?
i remember the girl on the phone saying the only way i could have the loan was to take the insurance with it. looking back on it, why did i say ok?! obviously i can't prove it but would i have a legitimate claim?

regularsaver1

I agree with those that think they were mise-sold if it didnt meet your needs.

But did some of you agree to it on a non-advised basis? I mean imagine there was a 5 year loan, and I'd had it for 4 years with ppi. I thought well I haven't claimed, so maybe this was no use - I will try and get refund. were you guys all seriously mis-sold, or was it a case of change your mind later?

Old_iron_balls

traveller1 wrote:

I have a barclay loan with PPI and asked for it to be cancelled and claimed a mis-sell.........

3 days after the complaint using the standard letter on the site they rang me full of apologies and refunded £4500.00 !!............makes a difference of £80 per month on the payment !!.thanks guys for the help.

T

RESULT ! ! ! :T

sammy115

Hi Regularsaver1. what do you mean on a non-advised basis? I feel the problem with my PPI is I feel I was led to believe that you HAD to take the PPI, to qualify for the loan. If I had any brains at the time, which i didn't obviously I would have thought about it and realised that I already had the necessary to cover myself. If I had brains at the time I wouldn't even have taken the loan.

An indication of how these people work, is in my earlier post, when i said my disabled sister who doesn't work, was bullied into acccepting the PPI. She said no on a number of occasions and the sales person carried on. She is not a very confident person and needed the loan and therefore agreed.

Maybe some people were not mis-sold and whilst i don't advocate lying - I think some thing needs to be done about the PPI side of loans. They are not explained properly. When i went for a loan with the Black Horse I had to complete a form asking about my contract of employement, other insurance policies i might have to cover the payments etc and based on my answers was advised I didn't need the policy. That is when I began to think about my Barclays PPI.

asquiths_2

I do believe we were totally mis sold our ppi we weren't even given a monthly amount for the loan on its own the lady just said "it'll be £475.00 per month and you'll be covered incase of job loss etc. we just thought this was all part of the loan luckily we've only paid 10months so far of a 7 year loan. If i hadn't found this site and looked at our loan agreement then i would still be paying for this obliviously, but thanks to you all i've sent a letter to the bank and got a reply telling me they are looking into it. (i might have been naive once but this site has deffinately changed that!! look out yorkshire bank!!!)

thanks to all you people who advise and support!! xxxxxxxxxxxxxxxxxx